Lake Street Capital Raises ClearPoint Neuro (NASDAQ:CLPT) Price Target to $15.00

ClearPoint Neuro (NASDAQ:CLPT) had its price target lifted by Lake Street Capital from $11.00 to $15.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, B. Riley started coverage on ClearPoint Neuro in a research note on Thursday, July 25th. They set a buy rating and a $10.00 price target for the company.

ClearPoint Neuro Price Performance

Shares of CLPT stock opened at $13.18 on Tuesday. ClearPoint Neuro has a fifty-two week low of $4.05 and a fifty-two week high of $13.37. The stock’s 50-day moving average is $8.00 and its two-hundred day moving average is $6.84. The firm has a market cap of $361.40 million, a P/E ratio of -15.69 and a beta of 1.07.

ClearPoint Neuro (NASDAQ:CLPT) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.03. The company had revenue of $7.86 million during the quarter, compared to the consensus estimate of $7.50 million. ClearPoint Neuro had a negative return on equity of 76.92% and a negative net margin of 78.84%. During the same quarter in the prior year, the company posted ($0.29) EPS. As a group, research analysts expect that ClearPoint Neuro will post -0.66 EPS for the current year.

Institutional Trading of ClearPoint Neuro

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in ClearPoint Neuro by 7.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,867 shares of the company’s stock valued at $170,000 after purchasing an additional 1,813 shares during the period. Russell Investments Group Ltd. boosted its stake in ClearPoint Neuro by 23,048.0% during the 1st quarter. Russell Investments Group Ltd. now owns 46,296 shares of the company’s stock valued at $315,000 after purchasing an additional 46,096 shares during the period. Legato Capital Management LLC boosted its stake in ClearPoint Neuro by 21.6% during the 2nd quarter. Legato Capital Management LLC now owns 158,968 shares of the company’s stock valued at $857,000 after purchasing an additional 28,227 shares during the period. Lane Generational LLC boosted its stake in ClearPoint Neuro by 16.4% during the 4th quarter. Lane Generational LLC now owns 174,291 shares of the company’s stock valued at $1,183,000 after purchasing an additional 24,512 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in ClearPoint Neuro during the 2nd quarter valued at approximately $419,000. Institutional investors own 30.08% of the company’s stock.

ClearPoint Neuro Company Profile

ClearPoint Neuro, Inc operates as a medical device company primarily in the United States. It develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under magnetic resonance imaging guided interventions. The company offers ClearPoint system, an integrated system for the insertion of deep brain stimulation electrodes, biopsy needles, and laser catheters, as well as the infusion of pharmaceuticals into the brain.